Marketing Strategy Of Virgin Atlantic Airways Tourism Essay

Marketing Strategy Of Virgin Atlantic Airways Tourism Essay It has won business and customer awards from around the world. Virgin Atlantic stands at the second largest international airline to come under the British Long Haul category. Virgin Atlantic holds a United Kingdom Civil Aviation Authority Type A Operating License, which permits it to carry passengers, cargo, and mail on aircraft with 20 or more seats. It is based out of Crawley, England. Virgin Atlantic operates a fleet of 38 aircrafts: 13 Boeing 747s and 25 Airbus A340, with a pending 6 orders of Airbus A380, and 23 orders of Boeing 787 to be delivered in 2013 and 2011 respectively. Over 9000 people are employed by the company. Virgin Atlantic has been known for its dfferent slogans, as shown. in the past: Mines bugger than yours, 4 Engines 4 Long haul, Avoid the Q, Keep Discovering Until You Find The Best, No way BA/AA. Virgin Atlantic not only provides the product and service, but adds its own style, and personality to it, which most corporations lack. Geographical market The airline industry is classified into four categories by the Department of Transportation (DOT): International Plans require 130 or more seats, and usually travel without many limitations destination-wise, and have an annual revenue of one billion or more American Dollars. National Airlines with capacities of about 100 150 people, with an annual revenue between $100 million and $1 billion; Regional Largely only used for short haul flights, these usually constitute of a total revenue less that $100 million; Cargo Airlines that primarily deal with transportation of goods, rather than passengers. PEST Analysis Political Factors State owned airlines are particularly affected by these factors. Parts of their business has to be done with consideration regarding routes, free seating for ministers, etc. Private airlines do this as/when it is convenient, and would not go out on a limb. Archaic laws apply on State owned airlines regarding labour regulations, retirement age, etc. which decreases management options due to the strength of the Union, and the controlling of the government. This affects the quality of the service delivery therefore these airlines have to think of innovative service marketing ideas which overcome their problems, while keeping them in the running against private airlines. Economic Factors Business cycles control a large part of the industry. At peaking phases people indulge themselves in travel and fares can be increased. However at economic recession, air travel is considered a luxury, and use of it is often decreased considerably, which leads to minimising business for the airlines, and lower rates. The terrorist attacks known by their date, September 11, led to a global recession, with the depression of the consumers. The loss of income for airlines led to higher operational costs due to lower demand and higher insurance costs, which increased after the terrorist attacks. This left the industry with little choice but to lay off employees, which increases unemployment, decreases consumer spending, thus decreasing their sales. Even the SARS outbreak in the Far East was a major cause for slump in the airline industry. Social Factors The changing travel habits of people have very wide implications for the airline industry. In UK, there are varied income groups, with varied ethnicities. The airlines have to recognize these individuals and should serve them accordingly. The destination, kind of food etc all has to be chosen carefully in accordance with the tastes of their major clientele, while keeping the variety in mind. Another good example would be the case of South West Airlines which occupies a solid position in the minds of the US air travelers as a reliable and convenient, fun, low fare, and no frills airline. The major element of its success was the augmented marketing mix which it used very effectively. What South West did was it made the environment inside the plane very consumer friendly. The crew neither has any uniform nor does it serve any lavish foods, which indirectly reduces the costs and makes the consumers feel comfortable. Technological Factors Internet alone has drastically changed the airline industry. Air Sahara has introduced a service through the internet, wherein the unoccupied seats are auctioned one week prior to the departure, as an example. Also, most airlines provide many internet based services to its customer such as online ticket booking, updated flight information handling of customer complaints THE COMPETITION As an independent airline, Virgin Atlantic successfully competes on all of its routes with most of the industrys major national carriers. These include British Airways, bmi british midland, American Airlines, Continental, Delta and United on transatlantic routes; BA and SAA to South Africa; BA, ANA, Cathay Pacific and JAL to the Far East; BA to Delhi. THE COMPETITORS SALES AND PROFIT TRENDS The airlines industry is very competitive, although the barriers of entry for new airlines are lower in a market with a lack of government regulation. A deregulated market occurs when a government does not dictate airfares, route networks, and other operational requirements for airlines. Deregulation has produced far greater competition and because of this, average fares tend to drop 20% or more. [4] The competition, combined with the freedom of pricing, limit a new airline from competing at its stage, but also acts as a major constraint on profitability for established carriers, which tend to have a higher cost base. TABLE 1: Top 25 Global Airlines Revenue 2006 Airline Lists 2006 Revenues (Million US) % Air France KLM 28,945.00 10.28 Lufthansa 24,903.70 8.85 AMR Corporation 22,563.00 8.02 Japan Airlines System Corporation 18,905.40 6.72 UAL Corporation 17,882.00 6.35 Delta Air Lines, Inc. 17,171.00 6.10 Continental AG 13,128.00 4.66 Northwest Airlines Corporation 12,568.00 4.47 All Nippon Airways Co., Ltd. 11,765.80 4.18 US Airways Group, Inc. 11,557.00 4.11 British Airways Plc 10,654.60 3.79 Qantas Airways 10,272.20 3.65 Singapore Airlines Limited 9,119.30 3.24 Southwest Airlines Co. 9,086.00 3.23 Air Canada Inc 8,934.40 3.17 Korean Air Lines Co., Ltd. 8,328.60 2.96 SAS Group 8,236.90 2.93 Cathay Pacific Airways Limited 7,823.80 2.78 Emirates Group 7,423.20 2.64 Iberia 6,473.80 2.30 Alitalia-Linee Aeree Italiane S.p.A. 5,927.50 2.11 Virgin Group 3,518.10 1.25 TAM S.A. 2,515.50 0.89 Air India 2,060.80 0.73 ExpressJet Holdings, Inc. 1,679.60 0.60 Total 281,443.20 100.00 Source : Datamonitor (www.computerwire.com) MARKET SHARE: The Companys Market Share: Year Total passengers carried Total cumulative 1984 124,711 124,711 1985 245,404 370,115 1986 289,060 659,175 1987 464,196 1,123,371 1988 626,319 1,749,690 1989 619,506 2,369,196 1990 837,136 3,206,332 1991 1,044,760 4,251,092 1992 1,239,011 5,490,103 1993 1,398,834 6,888,937 1994 1,679,403 8,568,340 1995 2,029,624 10,597,964 1996 2,293,802 12,891,766 1997 2,806,538 15,698,304 1998 3,201,795 18,900,099 1999 3,622,402 22,522,501 2000 4,280,513 26,803,014 2001 4,105,115 30,908,129 2002 3,808,687 34,720,689 2003 3,850,578 38,571,267 Source: http://www.virgin-atlantic.com/en/gb/allaboutus/ourstory/forstudents.jsp Target Markets: Virgin Atlantic offers very individualized services to their customers, due to their belief in the importance of individuals. Virgin Atlantic has targeted upper class customers who are primarily business passengers traveling on transatlantic routes. Virgin Atlantic realized the opportunity to gain a considerable market share through effective marketing of their quality, fun, innovative, honest, and caring airline. Business travels are often those who travel several times through a year, and often tend to purchase upgraded services, which is beneficial for the airline. On the other hand, leisure travelers are less likely to purchase these premium services as they are usually price sensitive. In times of economic uncertainty or sharp decline in consumer confidence it is expected for the amount of leisure travelers to decline. The Companys Sales and Profit Trends: Y/E April 2003 2004 2005 2006 2007 TURNOVER  £1401m  £1272m  £1630m  £1912m  £2140m PROFIT  £15.7m  £20.9m  £20.1m  £41.6m  £46.8m SWOT Analysis Strengths Weaknesses -Brand image -Increased traffic -Financial strength -Declining market share in key markets -Lack of scale Opportunities Threats -Expanding passenger traffic in Asia -Increase in trans-pacific cargo -Partnership with ANA -Cargo price-fixing investigation -Rising aviation fuel prices -Terrorist attacks and scares deter passengers from flying Source: Virgin Atlantic Datamonitor Strengths Strong brand image Virgin Atlantic is a part of Richard Bransons Virgin Group, which has strong brand image, and is known across most of the world. Increased passenger and cargo traffic Virgin Atlantic recorded higher passenger and cargo traffic in 2006, as compared to 2005. The number of passengers carried by the company rose by 3.7% to 4.5 million. The quantity of cargo and mail carried increased by 9.1% to 163,165 tons. Strong financial position The company has witnessed strong revenue growth in fiscal 2006. It recorded revenues of  £1,912 million in fiscal 2006, an increase of 17.3% from 2005. The operating profit of the company was  £41.6 million during fiscal year 2006 as compared to  £20.1 million in 2005. Moreover, the operating margin of the company also increased from 1.2% in 2005 to 2.2% in 2006. Privately Owned Virgin Atlantic is privately owned; therefore, decisions can made quickly. Weaknesses Declining market share in key markets Despite strong brand image and improved financial performance, Virgin Atlantics market share has declined in most of its markets in 2006. Its market share in New York, East Coast, Caribbean, India and China has declined from 25%, 21%, 59%, 23% and 22% in 2005 to 24%, 17%, 57%, 18% and 8%, respectively, in 2006. Lack of scale The company operates 27 destinations whereas, its top competitors British Airways and Thai Airways International operates 148 and 600 destinations worldwide. Opportunities Expanding passenger traffic in Asia Pacific Driven by increased economic activity in emerging Asian countries such as China and India, demand for air travel to the Asia Pacific is rising. Virgin Atlantic already has significant presence in this region and is well positioned to benefit from increasing air travel to Asia. Increase in trans-pacific cargo The outlook for trans-pacific cargo market is positive. During 2006-2009, the market is expected to increase by an average of 7%, an increase from a 4.3% average annual growth recorded during 1999-2004. Because Virgin Atlantic operates Virgin Cargo, a worldwide air cargo business, this will allow opportunity for the company to further strengthen its market position in cargo. Partnership with ANA In September 2006, Virgin Atlantic announced that it has teamed up with one of the worlds ten largest airlines, All Nippon Airways (ANA), which allows Virgin Atlantic passengers to fly to Japan on ANAs domestic services. This new arrangement with ANA would enable the company to offer better service to its customers. Threats Cargo price-fixing investigation The US Justice Department and the executive body of the European Union have launched an investigation into allegations of price-fixing in the air cargo industry in February 2006 and one of the companys investigated was Virgin Atlantic. If the company is found to have participated in price-fixing, it may have to pay a significant fine and investor confidence could also be impacted. Rising aviation fuel prices Due to the rising oil prices globally, the prices of aviation fuel have increased substantially. This could impact Virgin Atlantics margins as it is mostly reliant on air freight business. Terrorist attacks and scares can deter passengers from flying When terrorist attacks occur, it places fear in potential customers, and can deter individuals from flying. SEGMENTATION Virgin Atlantic has two primary segments: Upper Class, and Economy class, with Economy Class segmented further to Premium Class, and Regular Economy, consisting of regular economy fare and coach fares. The premium class includes a separate economy cabin for full fares and option to pay extra for chauffeur driven cars and clubhouse lounges. The Upper Class is generally comprised of males between 35 to 45 years of age and that earn more than $75,000 a year. The Premium Economy is used evenly by business and leisure travelers, usually around 40 years of age. Marketing mix: Product For an airline, a marketing mix must be developed keeping both in-flight services, and ground services in mind, while also considering it as a tangible product, as well as a service. On the ground, transportation to and from the airport, online bookings, and check in services as well as duty free shopping, and parking options. In-flight services are most customers primary focus. Staff training becomes essential here, to allow customers to feel approached as they would appreciate, in order to to form customer loyalty and satisfaction. Price Most airlines use competitive pricing for both economy and business travellers. The ticket fare is divided like so: Basic fares; subject to availability, class and destination. Insurance; standardised. Inland Aviation Travel Tax (IATT); depending on the country intended to travel to. Passenger Service Fee (PSF); standardised. Also airlines use seasonal pricing. Tickets are usually more expensive when purchased during peak seasons such as holidays. Promotion In the UK advertising consists primarily of TV, press, magazines, outdoor posters and taxi sides, all featuring our distinctive logo. Advertising allows awareness to be raised of current products, their improvements, and new products, as well as appeal to consumers personally. Postal service allows more direct advertising to target markets and consumers, while informing known customers of improvements. During traditionally low seasons, tactical promotions and price advertising are also used to maximise aircraft capacity. Virgin Atlantic operates a frequent flyer programme, flying club to encourage loyalty in existing flyers. Virgin also markets to travel agents, who are the primary distributors of their airline seats. Along with the usual advertisements, the sales team offers various trade incentives, familiarization trips, and educational/social event deals. Conclusion: Marketing is, very evidently, the Virgin Antlantics key strength. However, the airlines limitations in destinations, is restraining their growth increase. Richard Branson, himself suggested that Virgin Atlantic will be able to reach market-leader reputation if expand from the trans-Atlantic routes, to across the world, while keeping its service, which acts as its key difference between them, and the rest.

Using Profitability Ratios To Evaluate A Businesses Overall Financial Performance

Using Profitability Ratios To Evaluate A Businesses Overall Financial Performance While profitability ratios evaluate a business overall financial performance through appraising its capability to produce revenues in surplus of service costs as well as other expenses. There are at least four profitability ratios, which they are gross profit margin, as well net profit margin, besides return on assets, in addition to return on equity. These ratios are used to assess performance and, with other data, forecast prospect profitability. Along with that is the future viability in addition to the soundness, which will repay loans as well as credit, additionally pay interest along with dividends. Since profits are divided amongst shares, the profit per share indicates possible dividend. However, there are varieties of elements that might be utilized to assess profitability. As instance, financial analysts service can use return on equity, or else yield to cost as assessment of profitability. Neglecting of the element utilized, these ratios might be a wealth of interaction among Business firms along with its competitors; is also useful to find an Industry enterprises profitability ratio in excess of time to appraise performance. The profitability ratios are so important to several professionals such like, managers who utilize ratios to promote analyze. In addition to Credit analysts such the same as credit managers or else bank loan officers. And also for stock analysts. There are some limitations of Profitability ratios, which were observed, like as; out of dated data in financial statement. As well as business firms can use different accounting policies. Besides summarized data in accounts. In addition to use of Creative Accounting. Along with inflation. Also we can add interpretation of the ratios is not a science. Plus different market along with financial risk profiles. At the end there is an impact of seasonality on trading. Moreover, some recommendations were enclosed, such like; Developing as well enhancing such performance orientated targets for all of profitable ratio imperative issues. Besides Understanding of the scope along with dimensions of the profitable ratio consciousness. In addition to elevate awareness of the consequences of profitable ratio posed by their risksÙ . Along with extension of appropriate approaches to contest profitable ratio understanding. Finally, to Identify resources available to ensure creditability to a better understanding of profitable ratios. Table Of Contents Introduction: Identifying the Four profitability ratios Profitability ratios Definition: 1) Gross profit margin 2) Net profit margin, 3) Return on assets, 4) Return on equity: Profitability ratios measurements: The role of the Profitability ratios: The limitations of Profitability ratios: Conclusions: Recommendations: References: Text Books: Web Sites: Introduction: An accounting ratio is made via dividing one-account transactions into another. The aim is to achieve a comparison that is easy as well as beneficial to clarify. Evaluate ratios for one Industry enterprise over several years. A graph of the ratio may allow a long-term trend. The same ratio is from many firms of similar size in the same industry. These ratios are used to assess performance and, with other data, forecast prospect profitability. Along with that is the future viability in addition to the soundness, which will repay loans as well as credit, additionally pay interest along with dividends. Since profits are divided amongst shares, the profit per share indicates possible dividend. Identifying the Four profitability ratios As we can clarify at this point that profitability ratios evaluate a business overall financial performance through assessing its capacity to make income more than operating costs as well as other expenses. There are at least four profitability ratios, which they are gross profit margin, as well net profit margin, besides return on assets, in addition to return on equity. Profitability ratios Definition: 1) Gross profit margin It demonstrates how well the business is efficiently producing or else providing products as well as services. It shows how well products are priced given the proper otherwise variable costs it takes to create or even give them. The better is the ratio; the higher is the profit potential. Therefore, the higher the gross margin, the more of a premium a Business firm charges for its products or else services. The higher the Gross Profit Margin the more success of an Industry enterprise will be at paying off expenses along with building savings. On the other words, it is simply net income divided via revenues. It shows the distribution of each sequence in sales that may in fact be kept such like earnings. A high profit margin evaluated to peers in the industry implies that the Business firm has different species of competitive advantage in parallel to their competitors, who are utilizing the costs better, proprietary knowledge, brand recognition, etc. While a good sign, it is up toward the person analyzing the shares to be able to prove that an Industry enterprise essentially does have a sustainable competitive advantage. Another significant trend is an accumulating profit margin, which effect that the Business firm is developing its competitive environment in the business. Profit margins might be also is utilized to assess whether growing earnings are useful for the Industry enterprise. Earnings growth along with a reduction in profit margin is an indicator, which the Business firms earnings growth may not be sustainable. 2) Net profit margin, It deals with the profits after taxes for the annual sales. Therefore, the higher ratio is, the better assisted the organization is to get downtrends brought on via adverse conditions. On the other words, the higher the Net Profit Margin the more efficiency the Industry enterprise is. Since the higher the percentage, the better the Business firm is at operating costs. Since the average profit margins different between industries, as well net profit margin might be utilized to evaluate firms within the same area or even part. Furthermore, it can also be utilized to establish the profitability of an Industry enterprise over time through comparing actual profit margin numbers toward recent ones. Furthermore, it illustrates the lowest level in profitability; the quantity of every sales proceeds is at last available pull out of the business or else to perform as dividends. 3) Return on assets, This ratio shows the after tax earnings of assets moreover it is an indicator of how successful a Business firm is. Thus, Return on assets ratio should be the primary indicator of the successful of an Industry enterprise. On the other hand, it indicates how well the business is using its assets to generate more revenue through relating how much profit (before interest along with income tax) the business earned headed for the total capital used to do that profit. It gets along with net profits after taxes within the assets utilized to justify such profits. A high percentage rate will tell you the Business firm are well run moreover it has a thriving return on assets. It can be used to assess rates of return with other investments, which might be implemented. Since it is just same as in the amended net turnover percentage described earlier, ROA adjusts for the effects of debt financing via taking off the after-tax impacts of interest expense. Moreover, it may additionally be utilized t o assess profitability across Industry enterprises along with over different times. It is the other part of the balance sheet from equity. One-way or even another, its effect is on determining whether to invest in a Business firm is indirect at best. 4) Return on equity: The most influential profitability ratio commencing an investors purpose is the return on equity (ROE) ratio. Moreover, it is always called ROI, as return on investment ratio; as a result, it may cause the yearly rate of return in the direction of the Industry enterprises investors otherwise owners. Return on equity represents the residual interest that is available to owners after deducting all other financing costs. Moreover, it is determined through dividing net income via owners equity. However, net income is listed at the end of the income statement since owners equity. It is encompassing the three main areas where investors can calculate the Business firms profitability, asset management as well as financial advantage. ROE represents the administrations ability to consider these three pillars of corporate management along with investors will get a feel of whether they will receive a fair return on equity as well as determine the administrations ability to perform. In short, thi s ratio tells the owner whether all the effort put into the business has been helpful. All other things, which are being objective, the more worth the ROE the achievable the Industry enterprise besides the more help you are getting from the industry you are putting into running it. Profitability ratios measurements: Financial ratio measures the Business firms aptitude to create revenues in surplus of working along with other expenses. Profitability ratios are used to calculate the profitability of an Industry enterprise besides it is necessary to evaluate the performance of a Business firm. Profitability ratios are ways to evaluate an Industry enterprises capacity to make money, as a profit for its investments chances. However, there are varieties of elements that might be utilized to assess profitability. As instance, financial analysts service can use return on equity, or else yield to cost as assessment of profitability. Neglecting of the element utilized, these ratios might be a wealth of interaction among Business firms along with its competitors; is also useful to find an Industry enterprises profitability ratio more than point in time to quantify performance. Therefore, for such firms with seasonal swings in earnings, though, this model may fall short. Profitability ratios are above all u sed to determine the value earned through a Business firm relation toward its sales, net profit in addition to total assets. However, these profitability ratios measure as per the following: 1) Gross profit margin ratio is a measurement of how much funds, being after costs of products sold, are left behind for different costs. It is calculated as follows: Gross Profit Margin = Gross Profit / Total Income 2) The net profit margin ratio measures the value might be available for distributing within owners after paying all the costs within a specified time. It indicates the importance of all transactions actions conducted within a given time, such as business, administration, selling, financing, and pricing, along with tax management. It is calculated as follows: Net Profit Margin = Net Profit / Net Sales 3) Return on Assets can be classified as it measures the net income over the Industry enterprises average assets. Moreover, it measures how well a Business firm is utilizing its assets. Therefore, a higher Return on Assets ratio shows the Industry enterprise is more effective at using its assets to generate income. Further (ROA) ratio can be calculated by using the following formula, which is= Net Profit after Taxes à · Total Assets 4) Return on Equity is calculated as net income divided via owners equity. Furthermore, it is a measurement of how much income a Business firm is generating on the money invested through the owners of the Industry enterprise. A high ROE is an indicator whereas funds can be put into investment in having the Business firm is well spent. The mathematical formula for return on equity is; Return on Equity = Net Income / Shareholder Equity The role of the Profitability ratios: Such ratios might be used to evaluate the profitability of an Industry enterprise in addition to it is necessary to measure the compliance of a Business firm. Profitability ratios are first used to determine the value earned via an Industry enterprise association toward its sales, network standards as well as total assets. Ratio analysis is used through three principle groups: 1) Credit analysts such the same as credit managers or else bank loan officers who analyze ratios in assisting to start a Business firms capacity to create its existing debts. 2) Stock analysts, these people who are having the interest within Industry enterprise productivity besides growth prospects comparing a Business firms ratios to industry ratios provides a convenient tool how the Industry enterprise measures up toward its competitors. Nevertheless, it is still true that Business firm specific differences can result in deviations from industry norms. 3) Managers who utilize ratios to promote analyze, as well control, and thus increase the Industry enterprises operations. The most effective way to evaluate ratios involves trend analysis: to calculate ratios for a Business firm over several years besides to take note of how they change over time. Trend analysis avoids cross-Industry enterprise in addition to cross-industry comparisons, enabling the analyst to reach conclusions about the Business firms financial condition along with its variation over time. The limitations of Profitability ratios: Thought ratio analysis may offer valuable information concerning an Industry enterprises operations as well as financial condition; it has some limitations, which can be classified as potential problems are listed below: 1. Out of dated data in financial statement As we can observe that the numbers of accounts are likewise to be minimal several months later, besides so might not get a real indication of the Business firms current financial situation. In addition, since the Balance Sheet is simply a snapshot of business at a particular time, any ratio based on the figures contained within the Balance Sheet might not be as an indicator of the financial position of the Industry enterprise for the year as a whole. For example, it is common for a seasonal business to have a year-end, which coincides with a low level of business activity. Thus, stocks as well as debtors may be reduced in the Balance Sheet because of this. 2. Business firms can use different accounting policies The choices of accounting policies may distort inter-Industry enterprise comparisons. Accounting law allows Business firms to exercise some caution when preparing accounts. Industry enterprises should be consistent with their own policies, not changing how they make their accounts each year, but this does not mean that will use the same policies, as rival Business firms. This argument makes inter Industry enterprise comparisons potentially most difficult. 3. Summarized data in accounts Ratios are on financial statements that are concluding of the accounting records. Therefore, it is through the summarization some relevant information might be left out that may have been of related toward the users of accounts. 4. Use of Creative Accounting The businesses include creative accounting in trying to explain the improving economic performance otherwise state that can be misleading in the direction of the users of financial accounting. These are techniques applied through a Business firm in order to create a strong financial position. 5. Inflation Comparison of performance over time can be distorted through inflation, which leads to price increases. Inflation makes comparisons of outputs over time false, as financial indicators might not be in a straight-line equivalent. Changes in results one year to the next, such as increases in revenue as well as net profit may indicate that the business has improved its authority when in fact increases may have resulted from inflation not improved sales. 6. Interpretation of the ratios is not a science. As we have seen it is hard to take a broad view about whether a exacting ratio is good or even bad. For example, a strong Acid Test Ratio may indicate a strong liquidity position, which is true or then again excessive funds that are offensive. In the same way, either a high gearing ratio may present an Industry enterprise that uses its borrowing for development proficiently or even slightly, one that is up toward its neck in debt besides cannot afford to repay its loans. 7. Different market along with financial risk profiles No two firms are the same, besides they can be markedly different. One excellent source of the difference is the kind of business the Industry enterprise operates in it. All of these will affect profit margins as well as prices, even when examining competitors in the same area or even market, using ratios to evaluate one Business firm with another could cause inaccurate information. Two Industry enterprises may be the same profession but have different financial risk profiles. One Business firm might be advantageous to get bank loans at better rates, is therefore borrowing to develop also will show high gearing levels, while another Industry enterprise may be judged not credit worthy, therefore will not be successful in obtaining loans along with it may seem that it is operating at low gearing level. An extremely fast analysis of the accounts might conduct Business firm two is in the maximum financial sources whenever in fact its less gearing field is since it cannot secure funding, whilst the first Industry enterprises superior gearing is part of a remarkably valuable business strategy. 8. Impact of seasonality on trading Financial statements are essentially on the part of the year that fluctuations that occur on a seasonal basis. Businesses, which are affected through seasons, might be chosen the right time to produce financial statements to show better results. For example, a maize growing Business activity will be able to demonstrate satisfactory outputs if accounts are generated in the thriving season. At this time, the business will have a decent stock levels in addition to bank balances will be at their highest. If results had been produced six months earlier the Business firm will have many liabilities, much lower cash balances besides fewer debtors about to pay. Conclusions: Ratio analysis is a valuable tool for judging a Business firms state, but those examining accounts should be aware of the problems described above besides it makes adjustments as necessary. Ratios analysis conducted without consideration of external influences also without realizing the potential for distortion is not convincing analysis. Nevertheless, if used wisely besides with good judgment, the use of ratios can provide a valuable understanding of an Industry enterprises operations. Profitability ratio analysis is extensively used via managers, creditors as well as investors. Used with caution as well as innovation, the technique might reveal much about a Business firm besides its operations. However, there are a few things to be never forgotten about ratios. Primarily, a ratio is only one odd divided through another, so it is difficult to understand that the mechanical calculation of one ratio, or even some ratios, will often provide valuable insights into an Industry enterprise. It is useful to think about ratios as in a detective story. One or even some ratios might be confusing, rather than when got together within different awareness of a Business firms management along with economic circumstances, profitability ratio analysis can tell us tremendously much. Recommendations: Recommendations may be concluded as the following: Developing as well enhancing such performance orientated targets for all of profitable ratio imperative issues. Understanding of the scope along with dimensions of the profitable ratio consciousness Elevate awareness of the consequences of profitable ratio posed by their risks. Extend appropriate approaches to contest profitable ratio understanding Identify resources available to ensure creditability to a better understanding of profitable ratios.

An Analysis of Characters in Jane Austens Pride and Prejudice Essay

An Analysis of Characters in Jane Austen's Pride and Prejudice An author will often give his or her work a title that reflects the overall theme or meaning of the piece-this is certainly the case in Jane Austen's novel Pride and Prejudice. A title may set the mood or describe a situation which otherwise might require several paragraphs to develop. Pride and Prejudice is a combination of humor, irony, and twists of events. Austen entitles her work Pride and Prejudice to emphasize subtly the fact that most characters in the work have a certain degree of pride or prejudice. Among the characters who display these traits are Mr. Collins, Mr. Wickham, Lady Catherine de Bourgh, Miss Bingley, and, of course, Darcy and Elizabeth. Although Darcy and Elizabeth are the two central characters, and are the ones who are proud and prejudiced respectively, there are several others who are plagued with character flaws. At the opening of the story, Mr. Collins is introduced as the cousin of the Bennets who is coming to Longbourn for a visit. Mr. George Wickham is an officer introduced toward the beginning of the novel. Lady Catherine de Bourgh is the rich influential aunt of Mr. Darcy who tries to sabotage his engagement to Elizabeth. Miss Bingley is the person who thinks ill of the Bennets from their first meeting. These characters all have the problem of being either proud or prejudiced. Elizabeth most aptly describes Mr. Collins when she says he is "conceited, pompous, narrow-minded, [and] silly" (Austen 129). Austen says of Collins: the respect which he [feels] for [Lady Catherine's] high rank, and his veneration for her as his patroness, mingling with a very good opinion of himself, of his authority as a clergyman, and his right... ...orks Cited Austen, Jane. Pride and Prejudice. Franklin Center, PA: The Franklin Library, 1980. Joseph, Gerhard. "Prejudice in Jane Austen, Emma Tennant, Charles Dickens-and Us." Studies in English Literature 40.4 (Autumn 2000): 679-694. Online: lt;http://triton.libs.uga.edu/cgi-bin/galileo.cgi> Kliger, Samuel. "Jane Austen's Pride and Prejudice in the Eighteenth-Century Mode." Twentieth-Century Interpretations of Pride and Prejudice. Ed. E. Rubinstein. Englewood Cliffs: Prentice-Hall, 1969. 54-57. Mansell, Darel. The Novels of Jane Austen: An Interpretation. New York: Harper & Row, 1973. Pinion, F. B. A Jane Austen Companion. London: Macmillan St. Martin's, 1973. Satz, Martha. "An Epistemological Understanding of Pride and Prejudice: Humility and Objectivity." Jane Austen: New Perspectives. Ed. Janet Todd. New York: Holmes & Meier, 1983.

The Search for Identity in Amy Tans The Joy Luck Club Essay -- Joy Lu

The Search for Identity in The Joy Luck Club  Ã‚        Ã‚  Ã‚  Ã‚  Ã‚   When Chinese immigrants enter the United States of America, it is evident from the start that they are in a world far different than their homeland. Face to face with a dominant culture that often times acts and thinks in ways contrary to their previous lives, immigrants are on a difficult path of attempting to become an American. Chinese immigrants find themselves often caught between two worlds: the old world of structured, traditional and didactic China and the new world of mobile, young and prosperous America. They nostalgically look back at China longing for a simpler life but look at the United States as a land of opportunity and freedom that they did not know in China. For this is why they came to America in the first place, to provide for their children and themselves what they could not in China. To do this, of course, they are faced with the challenge of assimilating. Learning the language, acquiring education, owning property, etc. are all ways to seiz e the American Dream. However this poses a problem for the Chinese immigrant for, in the process of assimilation, they lose some of their Chinese culture. This especially rings true for the children of Chinese immigrants: the second-generation Chinese Americans. Second-generation Chinese Americans are faced with a special challenge. Their parents have endured the struggle to come to this coun... ... October 19%.: 256,257. Shear, Walter. "Generational Differences and the Diaspora." Critigue Spring 1993: 193-199. Tan, Amy. The Joy Luck Club. Vintage Contemporaries. New York: A Division of Random House, Inc., 199 1. Tsai, Shan-Shan Henry. The Chinese Experience in America. Bloomington and Indianapolis: Indiana University Press, 1986. Xu, Ben. "Memory and the Ethnic Self. Reading Amy Tan's The Joy Luck Club."Meleus. Spring 1994: 3 -16. Yung, Judy. Chinese Women in America: A Pictorial History. Seattle and London: University of Washington Press, 1989. (several found in Gale Literary Database t)v-(http://www.galenet.com/servlet/GLD/hits?c...n=10&1=d&NA=Amy+Tan=&The+Joy+-Luck+Club)   

Female Struggles Essay -- Journalism Journalistic Papers

Patriarchal cultures are the universal reality of modern society. People who believe in equal rights for women try to expose the pitfalls of patriarchy. A role of the feminists is to fight patriarchy. In Salt Lake City, Utah where there are a number of people who belong to the Church of Latter Day Saints, also known as Mormons, patriarchy also exists. Terry Tempest Williams discusses patriarchy and women’s connection to the land in Refuge. Over time women’s status in society has become better, however in Mormon culture women’s rights have decreased. In Refuge, Terry Tempest Williams as an ecofeminist defies the traditional Mormon woman’s role. In Refuge the gender roles are not as clear as in society. Williams chooses to display the gender roles more subtly. We learn that women are very close to other women. We see men doing manual labor. You see the mother as the nurturer and the father as the provider. Terry Tempest Williams gives readers insight on the culture but not explicit ideas about how gender in constructed in Mormon culture. Outside of Refuge, women have really lost rights in the last few years. In recent years women have lost the right to have priesthood and give blessings though polygamy has ceased (Stack 2003). These struggles are specific to Mormons but there are many struggles that women face all over the country. The struggles that women face internationally are extensive. The female Mormons in Utah are not exempt from this struggle, in fact their struggles compare to women in the third world. In some Islamic states, the women have to cover their bodies so men can not see their bodies at all. Though Mormonism is not exactly the same, the status of women in the church has become progressively worse, making wo... ... a family, and if finances allow, be a stay at home mom. While women are supposed to be prepared for a career – in case they don’t get married, spouse dies, etc., the first priority is supposed to be raising a family, and often career plans are â€Å"just in case† (4/13/05). With the things that women know and do not quite know they make their opinions as all do. Even with the descent of women in Mormonism, through a thoughtful process, Sheena James herself chooses to be a stay at home mom in the future. There is no problem with this choice nor is it a problem for all women to make this choice; as long as there is a choice. Williams’ choice was not to perpetuate gender roles in her life. She still loves and appreciates her cultural practices though sexism exists in the culture. Being an eco feminist defies the traditional role of the woman as Williams does in Refuge.

Literature ans society Essay

The literature of an age, and its social set up keeping and reacting one over the other. Literature influences the society; society is reflected in Literature and in this way, in all languages and at all times there has been a close interaction between the two. Literature of any age cannot escape the influence of the social scene and therefore is found reflecting the society of the age when it is created. The poet, the dramatist, the novelist, the essayist are all the product of their age and their-age openly and clearly gets imaged in their compositions. That cannot be helped, it so seems. Take  the example of two literatures — English and Hindi. Chaucer is called the father of English poetry and actually English literature in its form and language which kept on developing and improving, begins from him. His most representative work is the Prologue to the Canterbury Tales and then the Canterbury Tales. All the characters painted in these tales are the true representation of the types of such people as they were in his times. While Chaucer is a reflector of those characters and their types of his age — he is virtually and truly described as the chronicler of his age — his characters whether a  Knight; the Prioress; the monk, the fat fryer, the sailor, the squire, the priest — all are truly the representatives of their types in the contemporary society as they actually were. Chaucer is a painter as well as a critic of his society. Shakespeare — the greatest dramatist of English language — one of the greatest of all languages brings in ‘ghosts’, ‘witches’, and ‘courtier’ and ‘fools’ in his plays which were as per the liking of his audience and a part of the English Society of his times. That is what is rightly said about Shakespeare that in addition to the normal three ‘unities’—  Time, Place and Action in drama, he brought about the fourth unity — ‘unity with the people’. That encomium clearly Shakespeare being influenced by the society of his age and in his plays he, though never gave any message or pronounced any philosophy, but that is always there — the triumph of the good over the evil. This was the message that was most needed to his age after all that had happened earlier — Henry VIII —the king having been killed, Mary Tudor — a despotic, arrogant, a cruel ruler and then a benevolent, all embracing middle-path follower queen — Queen Elizabeth. As is the king so are the people — is an old but true saying and Shakespeare reflects that hilarious sometimes, but somber and philosophic at the other in his plays. Hulton was very much the product of his age. A truly puritanical person; a deeply religious man, he gave to his age which was battling with belief and disbelief — the message of God’s triumph over Satan. The Eighteenth century of English literature is a true product of the age. The social scene had degenerated into debauchery and license after the Restoration of Charles II who brought along with him all that he had enjoyed during his exile and adjourns in France and the literature of that period reflects all that was happening in the society. Alexander Pope’s ‘Rape of the Lock’ is a reflection of the so-called lascivious high society of and pungent satire too, on all that was too much too bad for the society. Thus Pope is a reflector as a corrector of his age. So are Addison and Steele as essayists. Balzac, Zola, Maupassant of France had cast their influence on every Wycherley, conserve and later Restoration dramatists who had gone to the lowest depth in describing social disparity and this is how literature reflected the age. The French Revolution — a very significant political and social event of Europe had as its basic tenets — Equality, Fraternity and Liberty — and these tenets and the revolution did cast its spell all over Europe and England and the English poets could not escape that influence. Wordsworth was moved by the humanitarian aspect of the revolution in the earlier phase but later its bloodiness and violence disillusioned him and all this is reflected in Wordsworth’s poetry — ‘poet of man’ and in his later poetry. Shelley was moved by the revolution’s ‘spirit’ of revolution and Byron by its fighting spirit. Tennyson was a true representative of the Victorian age and sang of the glories of the Empire while his nature poetry gets influenced by the advancement of Science in the later nineteenth century. He did not remain a ‘priest of nature’ as Wordsworth was because where science advances religion declines. Charles Dickens saw the backside of industrialization — the poor getting Poorer and the rich richer — the sufferings of the poor are ignored and his novels reflect all this. The First World War (1914-19) created a group of who sang of the glories of war, of chivalry and  Sacrifice for the nation and then there is the post w poetry and post-war drama — Bernard Shaw dramatist known for his pungent satire, pricking the balloon of romanticism associated with war heroism and love in his ‘Arms and the Man’. Eliot comes on the literary stage to deal with the utter disillusionment of the age in his ‘Wasteland’ all this about English Literature. Similarly in Hindi Literature, when Prithvi Raj Chauhan was fighting valiantly with Mohammad Gori Chandrabardai — the warrior poet was singing of the glories of war and his hero in his ‘Prithvi Raj Raso’. Then came the Bhakti Kal — the period of Bhakti — the country and the nation had fallen under the Muslim yoke and there were class conflicts on the basis of faith and religion. There came on the literary scene, Kabir, who preached anti-fanaticism; pricked the bloated balloon of superstitions and blind faiths and admonished both ‘mullahs’ and ‘Pandits’ and showed the way of God. Tulsidas found the Hindu society divided into factions ‘Shaivas’ and ‘Vaishnavas’ and showed the path of love, brotherhood and mutual respect for all Gods and presented the ideals of a son, a brother, a wife, and a devotee. The triumph of Ram — the incarnation of the Good over Ravan, the symbol of Evil is an eternal lesson given by him to the society — whose lessons remain revered even till today. The period of comparative social peace created a set of poets who indulged in pleasing their patrons — the Kings — as their courtiers and songsters. Their poetry is full of amorous sports in which they make Krishna a Radha and the Gopis their actors — a very wrong a vitiated depiction — unbecoming of those great. This was done just to gratify their patrons — the sensuous and sensual kings. This is how the social scene was reflecting itself in literature. Then, comes the modern age. The British were ruling India and there were classes close to the ruler and classes suffering at the hands of the officials and at the hands of the so-called elite of the society. There were classes created — the superior, the downtrodden — the imperialists and the nationalists. Prem Chand — the great novelist unravels this class fight in his novels and thereby, not only reflects the society of his times but gives a lesson too. His novels, his short stories — all have a lesson to give. There was Bhartendu Harishchandra — the poet the harbinger of the modern age and thought, who successfully caricatured the classes — social and religious — thus reflecting the social scene with a point to reform it. Thus goes on the scene. Maithili Saran Gupta — the Gandhian poet sings of the glory of Ram, of the glory of Lord Buddha, of the glory of other mythological heroes his thrust throughout being to awaken the masses and enlighten them into cordial social contacts. The national fervor reverberated through the veins of the Psyche under the leadership of Mahatma Gandhi and poets  after poets, writers after writers sang of the of our ancient land and its culture. Jai Sanker rasad, Ramdhari Singh Dinkar, the poets; Dharmvir Shrilal Shukla — the novelists brought into focus the inequalities and imbalances that plagued the social scene and through their thoughtful and sometimes highly satirical way brought to the fore the social and political malaise through which our present generation passing. This true presentation has been with a purpose — to awaken the social conscience to the problems that dog the people. Literature thus has been holding the mirror up to Nature on one hand; reflecting all traditions,  trends and tendencies while rising up the finger of caution too to guard against all that goes against the basic values of life. Literature and Society have remained and shall remain ever intertwined and the more they so remain, the more solid would the foundations be laid for a sustained growth; a well-coordinated growth and a corrected social order Literature has to play its part as a reflector and a corrector of society and society has to inspire men of letters to keep themselves on their guard towards their mission of social good.

Gender Differences in Depression Essay

Abstract From early adolescence through adulthood, women are twice as likely as men to experience depression. Many different explanations for this gender difference in depression have been offered, but none seems to fully explain it. Recent research has focused on gender differences in stress responses, and in exposure to certain stressors. I review this research and describe how gender differences in stress experiences and stress reactivity may interact to create women’s greater vulnerability to depression. Keywords gender; depression; stress Across many nations, cultures, and ethnicities, women are about twice as likely as men to develop depression (Nolen-Hoeksema, 1990; Weissman et al., 1996). This is true whether depression is indexed as a diagnosed mental disorder or as subclinical symptoms. Diagnosable depressive disorders are extraordinarily common in women, who have a lifetime prevalence for major depressive disorder of 21.3%, compared with 12.7% in men (Kessler, McGonagle, Swartz, Blazer, & Nelson, 1993). Most explanations for the gender difference in depression have focused on individual variables, and studies have attempted to show that one variable is better than another in explaining the difference. In three decades of research, however, no one variable has single-handedly accounted for the gender difference in depression. In recent years, investigators have moved toward more integrated models, taking a transactional, developmental approach. Transactional models are appropriate because it is clear that depression impairs social and occupational functioning, and thus can have a major impact on an individual’s environment. Developmental models are appropriate because age groups differ markedly in the gender difference in depression. Girls are no more likely than boys to evidence depression in childhood, but by about age 13, girls’ rates of depression begin to increase sharply, whereas boys’ rates of depression remain low, and may even decrease. By late adolescence, girls are twice as likely as boys to be depressed, and this gender ratio remains more or less the same throughout adulthood. The absolute rates of depression in women and men vary substantially across the life span, however. In this review, I focus on two themes in recent research. First, because women have less power and status than men in most societies, they experience certain traumas, particularly sexual abuse, more often than men. They also experience more chronic strains, such as poverty, harassment, lack of respect, and constrained choices. Second, even when women and men experience the same stressors, women may be more likely than men to develop depression because of gender differences in biological responses to stressors, self-concepts, or coping styles. Frequent stressful experiences and reactivity to stress are likely to have reciprocal effects on each other. Stressful experiences can sensitize both biological and psychological systems to future stress, making it more likely that individuals will react with depression. In turn, reactivity to stress is associated with impaired problem solving, an d, as a result, with the accumulation or generation of new stressors, which may contribute to more depression. STRESSFUL LIFE EVENTS Women’s lack of social power makes them more vulnerable than men to specific major traumas, particularly sexual abuse. Traumas may contribute directly to depression, by making women feel they are helpless to control their lives, and may also contribute indirectly, by increasing women’s reactivity to stress. Women’s social roles also carry a number of chronic strains that might contribute directly or indirectly to depression. Major changes in the frequency of traumatic events and in social roles coincide with the emergence of gender differences in depression in adolescence, and may help to explain this emergence. Victimization Women are the victims of sexual assault—defined as being pressured or forced into unwanted sexual contact—at least twice as often as men, and people with a history of sexual assault have increased rates of depression (see Weiss, Longhurst, & Mazure, 1999). Sexual assault during childhood has been more consistently linked with the gender difference in depression than sexual assault that first occurs during adulthood. Estimates of the prevalence of childhood sexual assault range widely. Cutler and I reviewed the most methodologically 174 sound studies including both male and female participants and found rates of childhood sexual assault between 7 and 19% for females and between 3 and 7% for males (Cutler & Nolen-Hoeksema, 1991). We estimated that, in turn, as much as 35% of the gender difference in adult depression could be accounted for by the higher incidence of assault of girls relative to boys. A few studies have examined whether depression might be an antecedent rather than a consequence of sexual assault. Depression does appear to increase risk for sexual assault in women and men, but sexual assault significantly increases risk for first or new onsets of depression. Childhood sexual assault may increase risk for depression throughout the life span because abuse experiences negatively alter biological and psychological responses to stress (Weiss et al., 1999). Children and adolescents who have been abused, particularly those who have been repeatedly abused over an extended period of time, tend to have poorly regulated biological response to stress. Abuse experiences can also negatively alter children’s and adolescents’ perspectives on themselves and others, contributing to their vulnerability to depression (Zahn-Waxler, 2000). do nearly all the child care and domestic work of the home. In addition, women are increasingly â€Å"sandwiched† between carin g for young children and caring for sick and elderly family members. This role overload is said to contribute to a sense of â€Å"burn out† and general distress, including depressive symptoms, in women. In the context of heterosexual relationships, some women face inequities in the distribution of power over important decisions that must be made, such as the decision to move to a new city, or the decision to buy an expensive item such as a car (Nolen-Hoeksema, Larson, & Grayson, 1999). Even when they voice their opinions, women may feel these opinions are not taken seriously, or that their viewpoints on important issues are not respected and affirmed by their partners. My colleagues and I measured chronic strain by grouping inequities in workload and heterosexual relationships into a single variable, and found that this variable predicted increases in depression over time, and partially accounted for the gender difference in depression (Nolen-Hoeksema et al., 1999). Depression also contributed to increased chronic strain over time, probably bec ause it was associated with reductions in perceptions of control and effective problem solving. Girls also feel that if they pursue male-stereotyped activities and preferences, such as interests in math and science or in competitive sports, they are rejected by their peers. For many girls, especially white girls, popularity and social acceptance become narrowly oriented around appearance. This narrowing of acceptable behavior for girls in early adolescence may contribute to the increase in depression in girls at this time, although this popular theory has been the focus of remarkably little empirical research (NolenHoeksema & Girgus, 1994). There is substantial evidence that excessive concern about appearance is negatively associated with wellbeing in girls, but these findings may apply primarily to white girls. In addition, very little research has examined whether appearance concerns and gender roles are risk factors for depression or only correlates. REACTIVITY TO STRESS Even when women and men are confronted with similar stressors, women may be more vulnerable than men to developing depression and related anxiety disorders such as posttraumatic stress disorder (Breslau, Davis, Andreski, Peterson, & Schultz, 1997). Women’s greater reactivity compared with men’s has been attributed to gender differences in biological responses, self-concepts, and coping styles. Biological Responses to Stress For many years, the biological explanations for women’s greater vulnerability to depression focused on the direct effects of the ovarian hormones (especially estrogen and progesterone) on women’s moods. This literature is too large and com- Chronic Strains Women face a number of chronic burdens in everyday life as a result of their social status and roles relative to men, and these strains could contribute to their higher rates of depression (see Nolen-Hoeksema, 1990). Women make less money than men, and are much more likely than men to live in poverty. Women are more likely than men to be sexually harassed on the job. Women often have full-time paid jobs and also Gender Intensification in Adolescence Social pressure to conform to gender roles is thought to increase dramatically as children move through puberty. For girls, this may mean a reduction in their opportunities and choices, either real or perceived. According to adolescents’ own reports, parents restrict girls’ more than boys’ behaviors and have lower expectations for girls’ than for boys’ competencies plicated to review here (but see Nolen-Hoeksema, 1990, 1995). Simply put, despite widespread popular belief that women are more prone to depression than men because of direct negative effects of estrogen or progesterone on mood, there is little consistent scientific evidence to support this belief. Although some women do become depressed during periods of hormonal change, including puberty, the premenstrual period of the menstrual cycle, menopause, and the postpartum period, it is unclear that these depressions are due to the direct effects of hormonal changes on mood, or that depressions during these periods of women’s lives account for the gender differences in rates of depression. More recent biological research has focused not on direct effects of ovarian hormones on moods, but on the moderating effects of hormones, particularly adrenal hormones, on responses to stress. The hypothalamic-pituitary-adrenal (HPA) axis plays a major role in regulating stress responses, in part by regulating levels of a number of hormones, including cortisol, which is released by the adrenal glands in response to chemicals secreted by the brain’s hypothalamus and then the pituitary. In turn, cortisol levels can affect other biochemicals known to influence moods. People with major depressive disorder often show elevated cortisol responses to stress, indicating dysregulation of the HPA response. An intriguing hypothesis is that women are more likely than men to have a dysregulated HPA response to stress, which makes them more likely to develop depression in response to stress (Weiss et al., 1999). Women may be more likely to have a dysregulated HPA response because they are more likely to have suffered traumatic events, which are known to contribute to HPA dysregulation. In addition, ovarian hormones modulate regulation of the HPA axis (Young & Korszun, 1999). Some women may have depressions during periods of rapid change in levels of ovarian hormones (the postpartum period, premenstrual period, menopause, and puberty) because hormonal changes trigger dysregulation of the stress response, making these women more vulnerable to depression, particularly when they are confronted with stress. The causal relationship between HPA axis regulation and the gender difference in depression has not been established but is likely to be a major focus of future research. Subordinate their own needs and desires completely to those of others, they become excessively dependent on the good graces of others (Cyranowski, Frank, Young, & Shear, 2000). They may then be at high risk for depression when conflicts arise in relationships, or relationships end. Several recent studies have shown that girls and women are more likely than boys and men to develop depression in response to interpersonal stressors. Because depression can also interfere with interpersonal functioning, an important topic for future research is whether the gender difference in depression is a consequence or cause of gender differences in interpersonal strain. Coping Styles By adolescence, girls appear to be more likely than boys to respond to stress and distress with rumination—focusing inward on feelings of distress and personal concerns rather than taking action to relieve their distress. This gender difference in rumination then is maintained throughout adulthood. Several longitudinal and experimental studies have shown that people who ruminate in response to stress are at increased risk to develop depressive symptoms and depressive disorders over time (Nolen-Hoeksema et al., 1999). In turn, the gender difference in rumination at least partially accounts for the gender difference in depression. Rumination may not only contribute directly to depression, but may also contribute indirectly by impairing problem solving, and thus preventing women from taking action to overcome the stressors they face. Self-Concept Although the idea that girls have more negative self-concepts than boys is a mainstay of the pop-psychology literature, empirical studies testing this hypothesis have produced mixed results (Nolen-Hoeksema & Girgus, 1994). Several studies have found no gender differences in self-esteem, self-concept, or dysfunctional attitudes. Those studies that do find gender differences, however, tend to show that girls have poorer self-concepts than boys. Again, negative self-concepts could contribute directly to depression, and could interact with stressors to contribute to depression. Negative self-concept has been shown to predict increases in depression in some studies of children (Nolen-Hoeksema & Girgus, 1994). One consistent difference in males’ and females’ self-concepts concerns interpersonal orientation, the tendency to be concerned with the status of one’s relationships and the opinions others hold of oneself. Even in childhood, girls appear more interpersonally oriented than boys, and this gender difference increases in adolescence (Zahn-Waxler, 2000). AN INTEGRATIVE MODEL Women suffer certain stressors more often than men and may be 176 more vulnerable to develop depression in response to stress because of a number of factors. Both stress experiences and stress reactivity contribute directly to women’s greater rates of depression compared with men. Stress experiences and stress reactivity also feed on each other, however. The more stress women suffer, the more hyperresponsive they may be to stress, both biologically and psychologically. This hyperresponsiveness may undermine women’s ability to control their environments and overcome their stress, leading to even more stress in the future. In addition, depression contributes directly to more stressful experiences, by interfering with occupational and social functioning, and to vulnerability to stress, by inciting rumination, robbing the individual of any sense of mastery she did have, and possibly sensitizing the biological systems involved in the stress response. Important advances will be made in explaining the gender difference in depression as we understand better the reciprocal effects of biological, social, and psychological systems on each other. Key developmental transitions, particularly the early adolescent years, are natural laboratories for observing the establishment of these processes, because so much changes during these transitions, and these transitions are times of increased risk. Additional questions for future research include how culture and ethnicity affect the gender difference in depression. The gender difference is found across most cultures and ethnicities, but its size varies considerably, as do the absolute percentages of depressed women and men. The processes contributing to the gender difference in depression may also vary across cultures and ethnicities. Understanding the gender difference in depression is important for at least two reasons. First, women’s high rates of depression exact tremendous costs in quality of life and productivity, for women themselves and their families. Second, understanding the gender difference in depression will help us to understand the causes of depression in general. In this way, gender provides a valuable lens through which to examine basic human processes in psychopathology. Recommended Reading Cyranowski, J.M., Frank, E., Young, E., & Shear, K. (2000). (See References) Nolen-Hoeksema, S. (1990). (See References) Nolen-Hoeksema, S., & Girgus, J.S. (1994). (See References) Nolen-Hoeksema, S., Larson, J., & Grayson, C. (1999). (See References) Young, E., & Korszun, A. (1999). (See References) References Breslau, N., Davis, G.C., Andreski, P., Peterson, E.L., & Schultz, L. (1997). Sex differences in posttraumatic stress disorder. Archives of General Psychiatry, 54, 1044–1048. Cutler, S., & Nolen-Hoeksema, S. (1991). Accounting for sex differences in depression through female victimization: Childhood sexual abuse. Sex Roles, 24, 425–438. Cyranowski, J.M., Frank, E., Young, E., & Shear, K. (2000). Adolescent onset of the gender difference in lifetime rates of major depression. Archives of General Psychiatry, 57, 21–27. Kessler, R.C., McGonagle, K.A., Swartz, M., Blazer, D.G., & Nelson, C.B. (1993). Sex and depression in the National Comorbidity Survey I: Lifetime prevalence, chronicity, and recurrence. Journal of Affective Disorders, 29, 85–96. Nolen-Hoeksema, S. (1990). Sex differences in depression. Stanford, CA: Stanford University Press. Nolen-Hoeksema, S. (1995). Gender differences in coping with depression across the lifespan. Depression, 3, 81– 90. Nolen-Hoeksema, S., & Girgus, J.S. (1994). The emergence of gender differences in depression in adolescence. Psychological Bulletin, 115, 424–443. Nolen-Hoeksema, S., Larson, J., & Grayson, C. (1999). Explaining the gender difference in depression. Journal of Personality and Social Psychology, 77, 1061–1072. Weiss, E.L., Longhurst, J.G., & Mazure, C.M. (1999). Childhood sexual abuse as a risk factor for depression in women: Psychosocial and neurobiological correlates. American Journal of Psychiatry, 156, 816–828. Weissman, M.M., Bland, R.C., Canino, G.J., Faravelli, C., Greenwald, S., Hwu, H.-G., Joyce, P.R., Karam, E.G., Lee, C.-K., Lellouch, J., Lepine, J.P., Newman, S.C., Rubio-Stipc, M., Wells, E., Wickramaratne, P.J., Wittchen, H.-U., & Yeh, E.K. (1996). Cross-national epidemiology of major depression and bipolar disorder. Journal of the American Medical Association, 276, 293–299. Young, E., & Korszun, A. (1999). Women, stress, and depression: Se x differences in hypothalamic-pituitary-adrenal axis regulation. In E. Leibenluft (Ed.), Gender differences in mood and anxiety disorders: From bench to bedside (pp. 31–52). Washington, DC: American Psychiatric Press. Zahn-Waxler, C. (2000). The development of empathy, guilt, and internalization of distress: Implications for gender differences in internalizing and externalizing problems. In R. Davidson (Ed.), Wisconsin Symposium on Emotion: Vol. 1. Anxiety, depression, and emotion (pp. 222–265). Oxford, England: Oxford University Press.